Wednesday, December 29, 2010

Richard Russell's Observations on the Current Gold Bull

Today's gold bull market, Russell writes, is "one of the greatest and least appreciated bull markets in history.  Take in this series, you may never see its like again.

2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- ?

"I've been around a long time, and I've studied many primary bull markets.  And now I want to venture a few of my observations.

"In markets, I have never seen a series like the above end with a whimper or a fizzle.  The end or the wind-up of such a series usually arrives with an upside 'explosion,' as those who have failed to participate in the series finally rush in to join in the apparent endless advance. . . .

"A great primary bull market is an expression of something changing in a very fundamental and meaningful way.  Following a great bull market, the world is never quite the same."

Read the rest.

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